Skechers USA’s Outperform Rating Reaffirmed at Zacks (SKX)
Skechers USA (NYSE:SKX)‘s stock had its “outperform” rating reaffirmed by Zacks in a research note issued to investors on Thursday. They currently have a $50.00 target price on the stock. Zacks‘s target price suggests a potential upside of 12.11% from the company’s current price.
Shares of Skechers USA (NYSE:SKX) traded down 1.00% on Thursday, hitting $44.60. 513,146 shares of the company’s stock traded hands. Skechers USA has a 1-year low of $21.31 and a 1-year high of $47.53. The stock’s 50-day moving average is $42.58 and its 200-day moving average is $35.58. The company has a market cap of $2.255 billion and a price-to-earnings ratio of 28.86.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.34. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, analysts predict that Skechers USA will post $2.16 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna raised their price target on shares of Skechers USA from $48.00 to $55.00 in a research note on Wednesday, June 4th. Separately, analysts at Citigroup Inc. raised their price target on shares of Skechers USA from $49.00 to $52.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of Skechers USA in a research note on Monday, May 19th. They set a “buy” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Skechers USA has a consensus rating of “Buy” and a consensus price target of $42.33.
Skechers U.SA, Inc (NYSE:SKX) designs and markets Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under several lines.
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